Note: This is a seattlepi.com reader blog. It is not written or edited by the P-I. The authors are solely responsible for content. E-mail us at newmedia@seattlepi.com if you consider a post inappropriate.

Where homes sell fastest in Seattle

Homes sell faster in Seattle than in any U.S. city other than San Francisco, according to a new report.

The median time a home took to sell between mid-April and mid-July 2011 was 73 days in Seattle, compared with 117 days nationwide and 59 days in San Francisco, according to an analysis that Seattle-based real estate website Zillow did for CNBC. In Seattle, 33.55 percent of home listings have cut their price, the average discount is 6.88 percent and the final sales price averages 2 percent less than the list price, Zillow said.

Homes took longest to sell in New York (168 days), West Palm Beach (175 days) and Indianapolis (180 days).

Following up on this, seattlepi.com asked Zillow to do a similar analysis of Seattle neighborhoods. Here are the 20 neighborhoods where homes sell fastest.

20: Olympic Hills, where the median time homes took to sell over the past year was 81 days, and the typical home is worth $279,217, according to Zillow.

20: Olympic Hills, where the median time homes took to sell over the past year was 81 days, and the typical home is worth $279,217, according to Zillow.

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19: Greenwood, where the median time homes took to sell over the past year was 75 days, and the typical home is worth $308,366, according to Zillow.

19: Greenwood, where the median time homes took to sell over the past year was 75 days, and the typical home is worth $308,366, according to Zillow.

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17 (tie): Wedgwood, where the median time homes took to sell over the past year was 74 days, and the typical home is worth $386,758, according to Zillow.

17 (tie): Wedgwood, where the median time homes took to sell over the past year was 74 days, and the typical home is worth $386,758, according to Zillow.

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17 (tie): Haller Lake, where the median time homes took to sell over the past year was 74 days, and the typical home is worth $276,616, according to Zillow.

17 (tie): Haller Lake, where the median time homes took to sell over the past year was 74 days, and the typical home is worth $276,616, according to Zillow.

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16: View Ridge, where the median time homes took to sell over the past year was 73 days, and the typical home is worth $489,584, according to Zillow.

16: View Ridge, where the median time homes took to sell over the past year was 73 days, and the typical home is worth $489,584, according to Zillow.

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15: Arbor Heights, where the median time homes took to sell over the past year was 72 days, and the typical home is worth $298,928, according to Zillow.

15: Arbor Heights, where the median time homes took to sell over the past year was 72 days, and the typical home is worth $298,928, according to Zillow.

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14: Wallingford, where the median time homes took to sell over the past year was 71 days, and the typical home is worth $444,704, according to Zillow.

14: Wallingford, where the median time homes took to sell over the past year was 71 days, and the typical home is worth $444,704, according to Zillow.

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12 (tie): Gatewood, where the median time homes took to sell over the past year was 70 days, and the typical home is worth $333,849, according to Zillow.

12 (tie): Gatewood, where the median time homes took to sell over the past year was 70 days, and the typical home is worth $333,849, according to Zillow.

Photo: Michelle Nicolosi

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12 (tie): University District, where the median time homes took to sell over the past year was 70 days, and the typical home is worth $381,206, according to Zillow.

12 (tie): University District, where the median time homes took to sell over the past year was 70 days, and the typical home is worth $381,206, according to Zillow.

Photo: JOE DYER

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11: Green Lake, where the median time homes took to sell over the past year was 69 days, and the typical home is worth $411,835, according to Zillow.

11: Green Lake, where the median time homes took to sell over the past year was 69 days, and the typical home is worth $411,835, according to Zillow.

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10: Mount Baker, where the median time homes took to sell over the past year was 68 days, and the typical home is worth $473,082, according to Zillow.

10: Mount Baker, where the median time homes took to sell over the past year was 68 days, and the typical home is worth $473,082, according to Zillow.

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9: Maple Leaf, where the median time homes took to sell over the past year was 67 days, and the typical home is worth $351,836, according to Zillow.

9: Maple Leaf, where the median time homes took to sell over the past year was 67 days, and the typical home is worth $351,836, according to Zillow.

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8: Whittier Heights, where the median time homes took to sell over the past year was 65 days, and the typical home is worth $388,212, according to Zillow.

8: Whittier Heights, where the median time homes took to sell over the past year was 65 days, and the typical home is worth $388,212, according to Zillow.

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7: Sunset Hill, where the median time homes took to sell over the past year was 64 days and the typical home is worth $414,236, according to Zillow.

7: Sunset Hill, where the median time homes took to sell over the past year was 64 days and the typical home is worth $414,236, according to Zillow.

Photo: Grant M. Haller

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6: Alaska Junction, where the median time homes took to sell over the past year was 63 days, and the typical home is worth $333,978, according to Zillow.

6: Alaska Junction, where the median time homes took to sell over the past year was 63 days, and the typical home is worth $333,978, according to Zillow.

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5: Ravenna, where the median time homes took to sell over the past year was 58 days, and the typical home is worth $421,448, according to Zillow.

5: Ravenna, where the median time homes took to sell over the past year was 58 days, and the typical home is worth $421,448, according to Zillow.

Photo: Dan DeLong

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3 (tie): Bryant, where the median time homes took to sell over the past year was 56 days, and the typical home is worth $411,442, according to Zillow.

3 (tie): Bryant, where the median time homes took to sell over the past year was 56 days, and the typical home is worth $411,442, according to Zillow.

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3 (tie): Loyal Heights, where the median time homes took to sell over the past year was 56 days, and the typical home is worth $381,812, according to Zillow.

3 (tie): Loyal Heights, where the median time homes took to sell over the past year was 56 days, and the typical home is worth $381,812, according to Zillow.

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2: East Ballard, where the median time homes took to sell over the past year was 55 days, and the typical home is worth $374,397, according to Zillow.

2: East Ballard, where the median time homes took to sell over the past year was 55 days, and the typical home is worth $374,397, according to Zillow.

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1: Phinney Ridge, where the median time homes took to sell over the past year was 53 days, and the typical home is worth $423,013, according to Zillow.

1: Phinney Ridge, where the median time homes took to sell over the past year was 53 days, and the typical home is worth $423,013, according to Zillow.

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Where homes sell fastest in Seattle

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Zillow Chief Economist Stan Humphries noticed a couple of trends in the data.

Neighborhoods where homes are selling faster also have lost less value over the past five years. Homes may be selling faster because they’re holding their value better or holding their value because they’re more popular (and, so, selling faster).

Homes are selling fastest in neighborhoods with typical values closest to the area’s median value, reflecting a balance of popularity and affordability.

A contrast to this would be the examples of Uptown and Madison Park. Uptown is the city’s third-cheapest neighborhood, with a typical value of $256,872, and has the second-longest sales time, 152 days. Madison Park has the highest value, $763,490, and third-longest sales time, 144 days.

But the cheaper neighborhoods have seen homes lose value faster. The city’s four cheapest neighborhoods — South Delridge, Highland Park, Uptown and Beacon Hill — have seen their typical home value fall 6.9 percent, 7 percent, 6.2 percent and 6.5 percent, respectively, over the past five years. In the four most-expensive — Madison Park, Laurelhurst, Montlake and Madrona — values have fallen just 2.9 percent, 4.4 percent, 3.9 percent and 3.5 percent, respectively.

This probably reflects the fact that people who buy pricey homes tend to take longer to find just the one they want, while the sellers tend to be able to afford to wait longer.

Home in Alki have Seattle's longest median days to sell, according to Zillow. (Elliot Suhr/seattlepi.com)

So where are homes taking the longest to sell? Here are the 10 slowest-selling:

Note: This is a seattlepi.com reader blog. It is not written or edited by the P-I. The authors are solely responsible for content. E-mail us at newmedia@seattlepi.com if you consider a post inappropriate.